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FAIRFIELD COUNTY, Conn. -- A&P grocery stores has filed for chapter 11 bankruptcy for the second time in five years, according to a statement released by the company.

As part of the agreement, A&P will permanently shutter 25 stores, and sell off approximately 120 more for approximately $600 million, store officials said. No stores in Fairfield county are slated for closure.

“After careful consideration of all alternatives, we have concluded that a sale process implemented through chapter 11 is the best way for A&P to preserve as many jobs as possible, and maximize value for all stakeholders,” Paul Hertz, President and Chief Executive Officer of A&P said in a statement. “The interest from other strategic operators has been robust during the Company’s sales process to date, and we have every expectation that will continue in chapter 11."

In addition to filing for bankruptcy, the grocery chain will enter into a $100 million debtor-inpossession (DIP) financing agreement with Fortress Investment Group. The agreement will allow the stores to continue day-to-day operations. It also named Christopher McGarry Chief Restructuring Officer, according to the statement.